WASHINGTON , October 2, 2008- The following project was approved today by the World Bank’s Board of Executive Directors: IDA Credit Amount: US$40 million equivalent Terms: Maturity = 20 years; Grace = 10 years Project Description: The Project will support the Government of Georgia’s efforts to sustain implementation of the Poverty Reduction Support Operation (PRSO) program in the face of unanticipated budget constraints associated with the August 2008 conflict. The PRSO reform program focuses on four critical reform pillars: (i) strengthening public sector accountability, efficiency, and transparency; (ii) improving electricity and gas sector services; (iii) improving the environment for private sector development; and (iv) improving social protection, education and health care services. Media Contact: Michael Jones (202) 473-2588 mjones2@worldbank.org For further information on Georgia , please visit: http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/ECAEXT/GEORGIAEXTN/
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